Foxconn Is Buying Belkin for $866M

US consumer electronics company Belkin could soon be in the hands of well-known Taiwan-based manufacturer Foxconn if a bargain announced today gains blessing.

According to the Financial Times, Foxconn subsidiary FIT Hong Teng volition larn Belkin for $866 million in cash. Every bit part of the deal, FIT volition benefit not only from Belkin's existing business, only also over 700 patents besides as gaining control of the Linksys, Wemo, and Phyn brands.

Belkin is best known for its connectivity devices. If y'all need a hub, charger, cable, dock, or peripherals, chances are Belkin will have a production that fits the bill. Add to that Linksys habitation and business networking solutions and Wemo's smart devices, and you lot have a company well placed to cater to our ever-more gadget dominated world.

Once the acquisition is complete, FIT intends to turn Belkin into a smart home-focused business organisation, mainly through Linksys and Wemo products. In the Belkin press release, FIT CEO Sidney Lu explained that by, "Integrating Belkin's best-in-course capabilities and solutions into FIT, we wait to enrich our portfolio of premium consumer products and accelerate our penetration into the smart home."

Those 700+ patents will also help the company expand the products it offers while protecting itself from competitors. Chester J. Pipkin, founder and current CEO of Belkin, volition become chief executive of whatever this new concern ends upwardly beingness called. Keeping the Belkin proper name seems like an obvious option, though.

As far as FIT and Belkin are concerned, the deal is done, simply in reality at that place's one big hurdle withal to overcome. The conquering requires the approval of the Committee on Strange Investment in the US. President Trump doesn't look too kindly on Usa companies beingness bought, and this bargain will be no exception due to the potential loss of talent and patents.